Peru’s Central Reserve Bank kept its benchmark interest rate unchanged at 4.25% in February 2026, marking a third consecutive meeting without changes and matching market expectations. The bank noted that headline inflation rose to 1.7% in January, up from 1.5% in December, with monthly inflation at 0.10%. Core inflation, excluding food and energy, also edged higher to 2.0% from 1.8%. Meanwhile, twelve‑month inflation expectations declined to 2.0% in January, comfortably within the official target range.
Policymakers pointed to solid readings in both current-conditions and expectations indicators, against a global backdrop of stronger-than-anticipated growth and exceptionally favorable terms of trade. The BCRP reaffirmed that it will continue to closely monitor inflation trends, expectations, and economic activity, and remains prepared to adjust its policy stance if conditions warrant.
